The Trump International Hotel and Tower in Dubai will receive Bitcoin and other unspecified cryptoassets for real estate purchases. The project could not be completed for five years, so the details were relatively widespread.
Although the tower will include a hotel and clubhouse for tourists and temporary guests, crypto payments are only available for condo acquisitions. Permanent units of work will sell between $ 1 million and $ 20 million each.
Trump's Dubai project mixes crypto and real estate
According to a Report From the national, Eric Trump seems to be his family's main representative in this plan. The Trump organization is building a Trump International Hotel and Tower in Dubai, and Eric is its executive vice president.
He has provided many comments that describe the plan to accept crypto payments:
“[The Tower] would be the first real-scale project to accept Bitcoin, which receives cryptocurrency to buy units, and really exciting for me, because I love that world and I invested deeply in that world. I believe in cryptocurrency. When I see two worlds that I truly love are together, it is anxious, ”Eric Trump claimed.
Trump's name that collapsed in Bitcoin as an property that allows these purchases, but he has not described any other specific tokens. To be clear, the tower contains both hotel and condominium for permanent occupation; Only the latter can pay with crypto.
There is no apparent plan to use tokenized real estate techniques. Crypto is concentrated as a payment option.
The Trump family is working with DAR Global, a company listed in London, to launch a $ 1 billion Dubai development project. Its two penthouses will have $ 20 million requesting prices, while other condos will go between $ 1 and $ 1.2 million.
If everything is in accordance with the plan, the tower will open its doors for five years.
Eric Trump is an influential member of his family's crypto businesses thanks to his involvement in WLFI. He also sat on the Advisory Board of Metaplanet, further lending his interest in crypto.
Eric Trump is also set appeared In token2049 in Dubai, which could give him another chance to convert the project to potential buyers.
Dubai is a attractive destination for the Trump International Hotel and Tower as it has a booming real estate market and a growing crypto hub.
Because construction is still in its early stages, details about the project are relatively widespread, but it enjoys many solid foundations. Its success can be an important proof of the concept for real estate developments worldwide.
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